RTTNews | Aug 24, 2020 10:32AM EDT

10:32 Monday, August 24, 2020 (RTTNews.com) - Shares of ADMA Biologics Inc. (ADMA) are higher by more than 24 percent or $0.62 in Monday's morning trade at $3.14.

U.S. stocks are rising on Monday, extending gains from Friday's record highs, after the U.S. Food and Drug Administration or FDA approved emergency use of blood plasma to treat hospitalized COVID-19 patients.

ADMA Biologics manufactures specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases. The company also joined the CoVIg-19 Plasma Alliance in May and has been collecting plasma from COVID-19 convalesced patients. The CoVIg-19 Plasma Alliance has been established to accelerate the development of a plasma-derived hyperimmune globulin therapy for COVID-19.

ADMA Biologics has traded in a range of $1.45 to $5.48 in the past 52 weeks.

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